On October 1, 2021, Pronghorn Corp. issued $864,000, 8%, 10-year bonds at face value. The bonds were dated October 1, 2021, and pay interest annually on October 1. Financial statements are prepared annually on December 31. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Oct. 1, 2021 enter an account title for the journal entry on October 1, 2021 enter a debit amount enter a credit amount enter an account title for the journal entry on October 1, 2021
On October 1, 2021, Pronghorn Corp. issued $864,000, 8%, 10-year bonds at face value. The bonds were dated October 1, 2021, and pay interest annually on October 1. Financial statements are prepared annually on December 31. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Oct. 1, 2021 enter an account title for the journal entry on October 1, 2021 enter a debit amount enter a credit amount enter an account title for the journal entry on October 1, 2021
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On October 1, 2021, Pronghorn Corp. issued $864,000, 8%, 10-year
Date
|
Account Titles and Explanation
|
Debit
|
Credit
|
---|---|---|---|
Oct. 1, 2021
|
enter an account title for the journal entry on October 1, 2021
|
enter a debit amount
|
enter a credit amount
|
enter an account title for the journal entry on October 1, 2021
|
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